By Andrew Starke
The Foster’s Group is expected to announce a small profit when it reveals its financial results tomorrow (Aug 25).
Analysts predict that solid beer sales will offset the dwindling fortunes of the group’s wine business.
The Australian Financial Review (AFR) today (Aug 24) speculated that Foster’s beer business and flagship brands Victoria Bitter and Carlton Draught would show ‘robust profits’.
The announcement will have special significance for Foster’s CEO, Ian Johnston, who has been in the job for almost a year.
His ‘back-to-basics’ approach saw the giant brewer step back from plans to separate its wine and beer businesses earlier this year.
Citigroup told the AFR that it expected Foster’s to report a three percent rise in net profit after tax to $736 million, before one-offs.
TheShout will run a full analysis of the group’s results on Wednesday.
Shares in Foster’s were trading at $5.43 at 11am today, up from $5.35 seven days ago.